KeyCorp
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The last earnings update was 17 days ago. More info.
Add to Portfolio Compare Print
KEY Share Price and Events
7 Day Returns
1 Year Returns
KEY Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| KeyCorp (KEY) | -0.2% | -5.8% | -2.6% | -23.9% | 34.3% | 21.3% |
| US Banks | -2.6% | -6.3% | -3.5% | -14.2% | 32.4% | 36.7% |
| US Market | -1% | -3.3% | 0.8% | -0.4% | 30.4% | 37.1% |
1 Year Return vs Industry and Market
- KEY underperformed the Banks industry which returned -14.2% over the past year.
- KEY underperformed the Market in United States of America which returned -0.4% over the past year.
KEY Value
Is KeyCorp undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
KeyCorp
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for KeyCorp.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 19 analysts.
= Stable Book Value * Return on Equity = $16.34 * 12.1% |
$1.99 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 15 analysts. | $16.34 |
| Discount Rate (Cost of Equity) | See below | 8.7% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Banks Unlevered Beta | Simply Wall St/ S&P Global | 0.57 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.565 (1 + (1- 21%) (98.19%)) |
1.003 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.003 * 5.96%) |
8.71% |
Discounted Cash Flow Calculation for NYSE:KEY using Excess Returns Model Model
The calculations below outline how an intrinsic value for KeyCorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (12.1% – 8.71%) * $16.34) |
$0.56 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $0.56 / (8.71% - 2.73%) |
$9.42 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $16.34 + $9.42 |
$25.76 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $25.76 |
| Current discount | Discount to share price of
$16.43
= -1 x ($16.43 - $25.76) / $25.76 |
36.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- KeyCorp's share price is below the future cash flow value, and at a moderate discount (> 20%).
- KeyCorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for KeyCorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
KeyCorp's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-06-30) in USD | $1.69 |
| NYSE:KEY Share Price ** | NYSE (2019-08-16) in USD | $16.43 |
| United States of America Banks Industry PE Ratio | Median Figure of 598 Publicly-Listed Banks Companies | 12.29x |
| United States of America Market PE Ratio | Median Figure of 3,096 Publicly-Listed Companies | 17.26x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of KeyCorp.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:KEY Share Price ÷ EPS (both in USD) = 16.43 ÷ 1.69 |
9.72x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- KeyCorp is good value based on earnings compared to the US Banks industry average.
- KeyCorp is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
KeyCorp's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 9.72x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts |
4.4%per year |
| United States of America Banks Industry PEG Ratio | Median Figure of 274 Publicly-Listed Banks Companies | 1.12x |
| United States of America Market PEG Ratio | Median Figure of 2,126 Publicly-Listed Companies | 1.4x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 9.72x ÷ 4.4% |
2.2x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- KeyCorp is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
KeyCorp's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-06-30) in USD | $15.02 |
| NYSE:KEY Share Price * | NYSE (2019-08-16) in USD | $16.43 |
| United States of America Banks Industry PB Ratio | Median Figure of 601 Publicly-Listed Banks Companies | 1.16x |
| United States of America Market PB Ratio | Median Figure of 5,273 Publicly-Listed Companies | 1.7x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:KEY Share Price ÷ Book Value per Share (both in USD) = 16.43 ÷ 15.02 |
1.09x |
* Primary Listing of KeyCorp.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- KeyCorp is good value based on assets compared to the US Banks industry average.
Value checks
We assess KeyCorp's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) KeyCorp has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
KEY Future Performance
How is KeyCorp expected to perform in the next 1 to 3 years based on estimates from 19 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- KeyCorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- KeyCorp's earnings growth is positive but not above the United States of America market average.
- KeyCorp's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:KEY Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts | 4.4% |
| NYSE:KEY Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts | 2.6% |
| United States of America Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 1.5% |
| United States of America Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 3.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.5% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 6,735 | 1,903 | 5 | |
| 2020-12-31 | 6,626 | 1,824 | 15 | |
| 2019-12-31 | 6,453 | 1,743 | 15 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-06-30 | 6,099 | 2,818 | 1,716 |
| 2019-03-31 | 6,145 | 3,273 | 1,777 |
| 2018-12-31 | 6,178 | 2,506 | 1,793 |
| 2018-09-30 | 6,137 | 1,530 | 1,515 |
| 2018-06-30 | 6,093 | 2,812 | 1,396 |
| 2018-03-31 | 6,078 | 2,009 | 1,325 |
| 2017-12-31 | 6,026 | 1,815 | 1,219 |
| 2017-09-30 | 5,962 | 1,908 | 1,251 |
| 2017-06-30 | 5,755 | 376 | 1,067 |
| 2017-03-31 | 5,213 | 911 | 867 |
| 2016-12-31 | 4,724 | 1,689 | 753 |
| 2016-09-30 | 4,288 | 1,742 | 764 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
All data from KeyCorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 2.05 | 2.15 | 1.93 | 6.00 |
| 2020-12-31 | 1.90 | 2.02 | 1.78 | 22.00 |
| 2019-12-31 | 1.74 | 1.87 | 1.62 | 22.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-06-30 | 1.69 |
| 2019-03-31 | 1.73 |
| 2018-12-31 | 1.72 |
| 2018-09-30 | 1.44 |
| 2018-06-30 | 1.32 |
| 2018-03-31 | 1.24 |
| 2017-12-31 | 1.14 |
| 2017-09-30 | 1.17 |
| 2017-06-30 | 1.01 |
| 2017-03-31 | 0.88 |
| 2016-12-31 | 0.81 |
| 2016-09-30 | 0.88 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess KeyCorp's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
KeyCorp has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
KEY Past Performance
How has KeyCorp performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- KeyCorp's year on year earnings growth rate has been positive over the past 5 years.
- KeyCorp's 1-year earnings growth exceeds its 5-year average (22.9% vs 16.3%)
- KeyCorp's earnings growth has not exceeded the US Banks industry average in the past year (22.9% vs 33.3%).
Earnings and Revenue History
All data from KeyCorp Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-06-30 | 6,099.00 | 1,716.00 | 3,248.00 | |
| 2019-03-31 | 6,145.00 | 1,777.00 | 3,254.00 | |
| 2018-12-31 | 6,178.00 | 1,793.00 | 3,295.00 | |
| 2018-09-30 | 6,137.00 | 1,515.00 | 3,380.00 | |
| 2018-06-30 | 6,093.00 | 1,396.00 | 3,412.00 | |
| 2018-03-31 | 6,078.00 | 1,325.00 | 3,418.00 | |
| 2017-12-31 | 6,026.00 | 1,219.00 | 3,331.00 | |
| 2017-09-30 | 5,962.00 | 1,251.00 | 3,276.00 | |
| 2017-06-30 | 5,755.00 | 1,067.00 | 3,139.00 | |
| 2017-03-31 | 5,213.00 | 867.00 | 2,867.00 | |
| 2016-12-31 | 4,724.00 | 753.00 | 3,056.00 | |
| 2016-09-30 | 4,288.00 | 764.00 | 2,476.00 | |
| 2016-06-30 | 4,022.00 | 815.00 | 2,389.00 | |
| 2016-03-31 | 4,035.00 | 852.00 | 2,408.00 | |
| 2015-12-31 | 4,062.00 | 892.00 | 2,400.00 | |
| 2015-09-30 | 4,095.00 | 914.00 | 2,378.00 | |
| 2015-06-30 | 4,027.00 | 895.00 | 2,352.00 | |
| 2015-03-31 | 4,012.00 | 907.00 | 2,326.00 | |
| 2014-12-31 | 4,033.00 | 917.00 | 2,331.00 | |
| 2014-09-30 | 3,998.00 | 900.00 | 2,336.00 | |
| 2014-06-30 | 4,036.00 | 932.00 | 2,323.00 | |
| 2014-03-31 | 4,002.00 | 883.00 | 2,359.00 | |
| 2013-12-31 | 3,953.00 | 847.00 | 2,358.00 | |
| 2013-09-30 | 3,904.00 | 808.00 | 2,388.00 | |
| 2013-06-30 | 3,845.00 | 790.00 | 2,418.00 | |
| 2013-03-31 | 3,857.00 | 814.00 | 2,395.00 | |
| 2012-12-31 | 3,891.00 | 813.00 | 2,397.00 | |
| 2012-09-30 | 3,847.00 | 824.00 | 2,360.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- KeyCorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- KeyCorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
- Unable to establish if KeyCorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess KeyCorp's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
KeyCorp has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
KEY Health
This company is a bank or financial institution.Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Balance sheet
Assets
Liabilities and shares
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from KeyCorp Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-06-30 | 16,971.00 | 15,395.00 | 2,631.00 |
| 2019-03-31 | 15,926.00 | 15,316.00 | 2,128.00 |
| 2018-12-31 | 15,596.00 | 14,965.00 | 1,695.00 |
| 2018-09-30 | 15,210.00 | 16,214.00 | 2,032.00 |
| 2018-06-30 | 15,102.00 | 16,585.00 | 2,366.00 |
| 2018-03-31 | 14,946.00 | 15,498.00 | 2,046.00 |
| 2017-12-31 | 15,025.00 | 15,618.00 | 2,176.00 |
| 2017-09-30 | 15,250.00 | 16,320.00 | 1,978.00 |
| 2017-06-30 | 15,255.00 | 16,273.00 | 2,329.00 |
| 2017-03-31 | 14,978.00 | 13,964.00 | 2,052.00 |
| 2016-12-31 | 15,240.00 | 15,310.00 | 2,350.00 |
| 2016-09-30 | 14,998.00 | 14,887.00 | 2,988.00 |
| 2016-06-30 | 11,318.00 | 13,186.00 | 2,696.00 |
| 2016-03-31 | 11,071.00 | 12,539.00 | 2,307.00 |
| 2015-12-31 | 10,759.00 | 11,721.00 | 2,015.00 |
| 2015-09-30 | 10,717.00 | 12,070.00 | 2,078.00 |
| 2015-06-30 | 10,601.00 | 11,799.00 | 1,906.00 |
| 2015-03-31 | 10,613.00 | 10,663.00 | 2,028.00 |
| 2014-12-31 | 10,542.00 | 9,657.00 | 2,015.00 |
| 2014-09-30 | 10,503.00 | 9,209.00 | 2,035.00 |
| 2014-06-30 | 10,521.00 | 10,398.00 | 2,583.00 |
| 2014-03-31 | 10,419.00 | 10,001.00 | 2,118.00 |
| 2013-12-31 | 10,320.00 | 9,936.00 | 2,109.00 |
| 2013-09-30 | 10,236.00 | 8,525.00 | 2,545.00 |
| 2013-06-30 | 10,261.00 | 9,067.00 | 2,083.00 |
| 2013-03-31 | 10,379.00 | 10,637.00 | 2,242.00 |
| 2012-12-31 | 10,309.00 | 9,318.00 | 2,153.00 |
| 2012-09-30 | 10,279.00 | 8,910.00 | 2,702.00 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- KeyCorp has an acceptable proportion of non-loan assets held.
- KeyCorp's liabilities are made up of primarily low risk sources of funding.
- Loans at KeyCorp are broadly funded by customer deposits.
- KeyCorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- KeyCorp has a sufficient allowance for bad loans.
- KeyCorp has an acceptable level of bad loans (less than 2%).
Financial health checks
We assess KeyCorp's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) KeyCorp has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
KEY Dividends
What is KeyCorp's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
KeyCorp
shares you are expected to receive
$90
in your first year as a dividend.
Dividend Amount
- KeyCorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
- KeyCorp's dividend is above the markets top 25% of dividend payers in United States of America (3.84%).
Upcoming dividend payment
Purchase KeyCorp before the 'Ex-dividend' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| United States of America Banks Industry Average Dividend Yield | Market Cap Weighted Average of 481 Stocks | 3.3% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2010 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.84 | 8.00 |
| 2020-12-31 | 0.78 | 20.00 |
| 2019-12-31 | 0.71 | 20.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-07-17 | 0.740 | 4.316 |
| 2019-05-15 | 0.680 | 3.983 |
| 2019-01-10 | 0.680 | 4.039 |
| 2018-11-15 | 0.680 | 4.212 |
| 2018-07-11 | 0.680 | 3.411 |
| 2018-05-09 | 0.480 | 2.383 |
| 2018-01-11 | 0.420 | 2.047 |
| 2017-11-16 | 0.420 | 2.143 |
| 2017-07-12 | 0.380 | 2.099 |
| 2017-05-17 | 0.380 | 2.076 |
| 2017-01-12 | 0.340 | 1.870 |
| 2016-11-17 | 0.340 | 1.891 |
| 2016-07-13 | 0.340 | 2.686 |
| 2016-05-19 | 0.340 | 2.878 |
| 2016-05-05 | 0.340 | 2.838 |
| 2016-04-21 | 0.340 | 2.760 |
| 2016-01-14 | 0.300 | 2.711 |
| 2015-11-19 | 0.300 | 2.330 |
| 2015-07-09 | 0.300 | 2.190 |
| 2015-05-13 | 0.300 | 1.992 |
| 2015-05-05 | 0.300 | 2.051 |
| 2015-04-16 | 0.300 | 2.092 |
| 2015-01-15 | 0.260 | 1.872 |
| 2014-11-14 | 0.260 | 1.938 |
| 2014-07-11 | 0.260 | 1.942 |
| 2014-04-21 | 0.260 | 1.875 |
| 2014-04-17 | 0.260 | 1.917 |
| 2014-01-16 | 0.220 | 1.638 |
| 2013-11-21 | 0.220 | 1.667 |
| 2013-07-12 | 0.220 | 1.814 |
| 2013-05-16 | 0.220 | 2.021 |
| 2013-05-01 | 0.220 | 2.143 |
| 2013-04-18 | 0.220 | 2.272 |
| 2013-01-17 | 0.200 | 2.079 |
| 2012-11-15 | 0.200 | 2.373 |
| 2012-07-13 | 0.200 | 2.382 |
| 2012-05-17 | 0.200 | 2.684 |
| 2012-01-19 | 0.120 | 1.485 |
| 2011-11-17 | 0.120 | 1.608 |
| 2011-07-22 | 0.120 | 1.787 |
| 2011-05-19 | 0.120 | 1.468 |
| 2011-01-20 | 0.040 | 0.450 |
| 2010-11-19 | 0.040 | 0.480 |
| 2010-07-16 | 0.040 | 0.496 |
| 2010-05-20 | 0.040 | 0.501 |
| 2010-01-14 | 0.040 | 0.523 |
| 2009-11-19 | 0.040 | 0.674 |
| 2009-07-20 | 0.040 | 0.657 |
| 2009-05-22 | 0.040 | 0.756 |
| 2009-05-11 | 0.040 | 0.694 |
| 2009-04-21 | 0.040 | 0.614 |
| 2009-01-15 | 0.250 | 3.420 |
| 2008-11-20 | 0.250 | 3.161 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
KeyCorp's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2.5x coverage).
- Dividends after 3 years are expected to be well covered by earnings (2.4x coverage).
Income/ dividend checks
We assess KeyCorp's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can KeyCorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) KeyCorp has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
KEY Management
CEO
| COMPENSATION | $9,064,470 |
| AGE | 64 |
| TENURE AS CEO | 8.3 years |
CEO Bio
Ms. Beth E. Mooney serves as Director at Ford Motor Company since July 10, 2019. Ms. Mooney has been the Chairman and Chief Executive Officer of KeyCorp since May 1, 2011, and serves as its President. Ms. Mooney serves as the Chief Executive Officer of KeyBank National Association. She served as the Chief Operating Officer at KeyCorp from November 2010 to May 1, 2011 and also served as its Vice Chairman since April 2006. She served as Head of Key Community Banking of KeyCorp since April 2006 and leads its Business Banking, Wealth Management, Private Banking, Key Investment Services and KeyBank Mortgage. She served as Senior Executive Vice President of Regions Financial Corporation and its subsidiary, Amsouth Bank since June 2000. She joined KeyCorp in April 2006. She has experience in retail banking, commercial lending and real estate financing. She served as the Chief Financial Officer and Head of finance at AmSouth Bancorporation and its subsidiary Amsouth bank from February 2004 to April 4, 2006. She served as a Member of Management Board of Regions Financial Corporation. She served as Head of Finance and Credit Group of AmSouth Bank since February 2004. She served as Group Head of Tennessee and North Louisiana Banking Group from June 2000 to February 2004 of AmSouth and AmSouth Bank. At Bank One, she served as Regional President in Akron and Dayton and served as President from June 1999 to June 2000 of Bank One Ohio, NA and Chief Operating Officer from June 1998 to June 1999 of DPL Inc., electric public utility. She also completed other line assignments of increasing responsibility at Bank One Corporation, CitiCorp. Real Estate Inc., Hall Financial Group and Republic Bank of Texas/First Republic. Ms. Mooney has been a Director of KeyCorp since November 18, 2010. She serves as Board Chairman of Neighborhood Progress Inc. She serves as Vice Chairman of Keybank National Association. Ms. Mooney serves as Member of the Board of Trustees at The Conference Board, Inc. She has been Independent Director of AT&T Inc. since September 2013 and Greater Cleveland Partnership since April 2014. She serves as a Trustee on the Boards of the Musical Arts Association, Cleveland Clinic Foundation, Village Capital Corporation and a Member of The Financial Services Roundtable. While working in Ohio, Ms. Mooney served on the Boards of numerous civic and community organizations, including the Ohio Foundation of Independent Colleges, Ballet Met and the Miami Valley Economic Development Coalition, among others. She was similarly involved in community and civic work in Nashville and Birmingham. In 2006, USBanker magazine listed her as fifth among the nation's top ten banking Chief Financial Officers. She received the YWCA Women of Achievement Award in 2008 and was recognized in USBanker's "The 25 Most Powerful Women in Banking" editions in 2005, 2006, 2007 and 2008. She was selected as one of the 2007-2008 Distinguished Alumni recipients from the Cox School of Business at Southern Methodist University. Ms. Mooney received her B.A. in history from the University of Texas in 1977 and received her Master of Business Administration Degree from Southern Methodist University in 1983.serves as Director at Ford Motor Company since July 10, 2019. Ms. Mooney has been the Chairman and Chief Executive Officer of KeyCorp since May 1, 2011, and serves as its President. Ms. Mooney serves as the Chief Executive Officer of KeyBank National Association. She served as the Chief Operating Officer at KeyCorp from November 2010 to May 1, 2011 and also served as its Vice Chairman since April 2006. She served as Head of Key Community Banking of KeyCorp since April 2006 and leads its Business Banking, Wealth Management, Private Banking, Key Investment Services and KeyBank Mortgage. She served as Senior Executive Vice President of Regions Financial Corporation and its subsidiary, Amsouth Bank since June 2000. She joined KeyCorp in April 2006. She has experience in retail banking, commercial lending and real estate financing. She served as the Chief Financial Officer and Head of finance at AmSouth Bancorporation and its subsidiary Amsouth bank from February 2004 to April 4, 2006. She served as a Member of Management Board of Regions Financial Corporation. She served as Head of Finance and Credit Group of AmSouth Bank since February 2004. She served as Group Head of Tennessee and North Louisiana Banking Group from June 2000 to February 2004 of AmSouth and AmSouth Bank. At Bank One, she served as Regional President in Akron and Dayton and served as President from June 1999 to June 2000 of Bank One Ohio, NA and Chief Operating Officer from June 1998 to June 1999 of DPL Inc., electric public utility. She also completed other line assignments of increasing responsibility at Bank One Corporation, CitiCorp. Real Estate Inc., Hall Financial Group and Republic Bank of Texas/First Republic. Ms. Mooney has been a Director of KeyCorp since November 18, 2010. She serves as Board Chairman of Neighborhood Progress Inc. She serves as Vice Chairman of Keybank National Association. Ms. Mooney serves as Member of the Board of Trustees at The Conference Board, Inc. She has been Independent Director of AT&T Inc. since September 2013 and Greater Cleveland Partnership since April 2014. She serves as a Trustee on the Boards of the Musical Arts Association, Cleveland Clinic Foundation, Village Capital Corporation and a Member of The Financial Services Roundtable. While working in Ohio, Ms. Mooney served on the Boards of numerous civic and community organizations, including the Ohio Foundation of Independent Colleges, Ballet Met and the Miami Valley Economic Development Coalition, among others. She was similarly involved in community and civic work in Nashville and Birmingham. In 2006, USBanker magazine listed her as fifth among the nation's top ten banking Chief Financial Officers. She received the YWCA Women of Achievement Award in 2008 and was recognized in USBanker's "The 25 Most Powerful Women in Banking" editions in 2005, 2006, 2007 and 2008. She was selected as one of the 2007-2008 Distinguished Alumni recipients from the Cox School of Business at Southern Methodist University. Ms. Mooney received her B.A. in history from the University of Texas in 1977 and received her Master of Business Administration Degree from Southern Methodist University in 1983.
CEO Compensation
- Beth's compensation has been consistent with company performance over the past year, both up more than 20%.
- Beth's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the KeyCorp management team in years:
- The average tenure for the KeyCorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Beth Mooney
Chairman
$9M
64
8.3 yrs
Don Kimble
Vice Chairman & CFO
$3M
59
6.2 yrs
Chris Gorman
President of Banking & Vice Chairman
$5M
58
17.6 yrs
Randy Paine
Executive VP & President of Key Institutional Bank
$4M
49
3 yrs
Mark Midkiff
Chief Risk Officer & Executive Officer
$3M
57
1.6 yrs
Doug Schosser
Chief Accounting Officer & Executive Officer
49
4.3 yrs
Amy Brady
Chief Information Officer & Executive VP
$3M
52
7.3 yrs
Vern Patterson
Executive Vice President of Investor Relations
22.6 yrs
Paul Harris
Secretary & General Counsel
60
16.6 yrs
Brian Fishel
Chief Human Resource Officer & Executive VP
53
1.3 yrs
Board of Directors Tenure
Average tenure and age of the KeyCorp board of directors in years:
- The tenure for the KeyCorp board of directors is about average.
Board of Directors
Beth Mooney
Chairman
$9M
64
8.3 yrs
Sandy Cutler
Independent Lead Director
$250K
68
Betsy Gile
Director
$230K
63
9.4 yrs
Charlie Cooley
Director
$230K
63
7.8 yrs
Bill Gisel
Director
$215K
66
7.8 yrs
H. Dallas
Director
$210K
60
14.3 yrs
Kris Manos
Director
$210K
59
10.3 yrs
Ruth Ann Gillis
Director
$210K
64
9.8 yrs
Barbara Snyder
Director
$200K
64
9.1 yrs
Dick Hipple
Director
$210K
66
7.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. Jul 19 | Sell | Andrew Paine | Individual | 25. Jul 19 | 25. Jul 19 | -99,999 | $18.26 | $-1,825,982 | ||
| 12. Jun 19 | Sell | Amy Brady | Individual | 10. Jun 19 | 10. Jun 19 | -13,238 | $17.00 | $-225,046 | ||
| 06. Nov 18 | Buy | Donald Kimble | Individual | 02. Nov 18 | 02. Nov 18 | 5,000 | $18.55 | $92,750 | ||
| 05. Nov 18 | Buy | Beth Mooney | Individual | 01. Nov 18 | 01. Nov 18 | 10,000 | $18.26 | $182,600 | ||
Management checks
We assess KeyCorp's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) KeyCorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
KEY News
Simply Wall St News
Do You Know What KeyCorp's (NYSE:KEY) P/E Ratio Means?
See our latest analysis for KeyCorp How Do I Calculate KeyCorp's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for KeyCorp: P/E of 9.73 = $16.45 ÷ $1.69 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … The higher the P/E ratio, the higher the price tag of a business, relative to its trailing earnings.
Simply Wall St - – Full articleIs KeyCorp (NYSE:KEY) A Smart Choice For Dividend Investors?
Dividend Growth Potential With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see KeyCorp has grown its earnings per share at 13% per annum over the past five years. Earnings per share have been growing at a good rate, and the company is paying less than half its earnings as dividends. We generally think this is an attractive combination, as it permits further reinvestment in the business. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth generally bodes well for the future value of company dividend payments.
Simply Wall St - – Full articleHere's Why I Think KeyCorp (NYSE:KEY) Might Deserve Your Attention Today
In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like KeyCorp (NYSE:KEY). … See our latest analysis for KeyCorp How Fast Is KeyCorp Growing? … I discovered that the median total compensation for the CEOs of companies like KeyCorp, with market caps over US$8.0b, is about US$11m.
Simply Wall St - – Full articleHow Much Are KeyCorp (NYSE:KEY) Insiders Taking Off The Table?
So we'll take a look at whether insiders have been buying or selling shares in KeyCorp (NYSE:KEY). … While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. … NYSE:KEY Recent Insider Trading, July 4th 2019 Insiders at KeyCorp Have Sold Stock Recently The last quarter saw substantial insider selling of KeyCorp shares.
Simply Wall St - – Full articleDo Directors Own KeyCorp (NYSE:KEY) Shares?
Our analysis of the ownership of the company, below, shows that institutions own shares in the company. … View our latest analysis for KeyCorp NYSE:KEY Ownership Summary, June 18th 2019 What Does The Institutional Ownership Tell Us About KeyCorp? … NYSE:KEY Income Statement, June 18th 2019 Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions.
Simply Wall St - – Full articleWhat Does KeyCorp's (NYSE:KEY) Share Price Indicate?
This is because KeyCorp’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you are no longer interested in KeyCorp, you can use our free platform to see my list of over 50 other stocks with a high growth potential.
Simply Wall St - – Full articleHow Much Did KeyCorp's (NYSE:KEY) CEO Pocket Last Year?
View our latest analysis for KeyCorp How Does Beth Mooney's Compensation Compare With Similar Sized Companies? … Our data indicates that KeyCorp is worth US$17b, and total annual CEO compensation is US$9.1m. … Beth Mooney is paid around what is normal the leaders of larger companies.
Simply Wall St - – Full articleDid KeyCorp's (NYSE:KEY) Share Price Deserve to Gain 48%?
For example, the KeyCorp (NYSE:KEY) share price is up 48% in the last three years, clearly besting than the market return of around 40% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During three years of share price growth, KeyCorp achieved compound earnings per share growth of 19% per year.
Simply Wall St - – Full articleWhy KeyCorp’s (NYSE:KEY) Risk Control Makes It Attractive
Large banks such as KeyCorp (NYSE:KEY), with a market capitalisation of US$18b, have benefited from improving credit quality as a result of post-GFC recovery, leading to a strong growth environment. … As a consequence of the GFC, tighter regulations have led to more conservative lending practices by banks, leading to more prudent levels of risky assets on their balance sheets. … Since the level of risky assets held by a bank impacts its cash flow and therefore the attractiveness of its stock as an investment, I will take you through three metrics that are insightful proxies for risk.
Simply Wall St - – Full articleKeyCorp (NYSE:KEY) Is An Attractive Dividend Stock - Here's Why
Owning a strong dividend company and reinvesting the dividends is widely seen as an attractive way of growing your wealth. … With KeyCorp yielding 4.1% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … NYSE:KEY Historical Dividend Yield, April 19th 2019
Simply Wall St - – Full articleKEY Company Info
Description
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans. It also purchases retail auto-sales contracts through a network of auto dealership; offers financial, estate and retirement planning, asset management, and trust services, as well as portfolio management, life insurance, charitable giving, and related services for high-net-worth clients. In addition, this segment provides deposits, investment and credit products, and business advisory services to small businesses; and commercial lending, cash management, equipment leasing, and investment products, as well as employee benefit programs, succession planning, capital market access, derivatives, and foreign exchange services to mid-sized businesses. Its Key Corporate Bank segment offers a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans for middle market clients comprising consumer, energy, healthcare, industrial, public, real estate, and technology sectors. The company also offers securities underwriting, investment banking, and brokerage services. As of December 31, 2018, it offered its products and services through 1,159 retail banking branches and 1,505 automated teller machines in 15 states, as well as additional offices, online and mobile banking capabilities, and a telephone banking call center. KeyCorp was founded in 1849 and is headquartered in Cleveland, Ohio.
Details
| Name: | KeyCorp |
| KEY | |
| Exchange: | NYSE |
| Founded: | 1849 |
| $16,483,542,100 | |
| 1,003,258,801 | |
| Website: | http://www.key.com |
| Address: |
KeyCorp 127 Public Square, Cleveland, Ohio, 44114, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | KEY | Common Shares | New York Stock Exchange | US | USD | 02. Jan 1980 | |
| DB | KEY | Common Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1980 | |
| LSE | 0JQR | Common Shares | London Stock Exchange | GB | USD | 02. Jan 1980 | |
| BMV | KEY1 * | Common Shares | Bolsa Mexicana de Valores | MX | MXN | 02. Jan 1980 | |
| NYSE | KEY.PRI | DEP SHS 1/40 E | New York Stock Exchange | US | USD | 06. Dec 2016 | |
| NYSE | KEY.PRJ | DEP SHS PFD F | New York Stock Exchange | US | USD | 24. Jul 2018 | |
| NYSE | KEY.PRK | DP SHS PFD G | New York Stock Exchange | US | USD | 23. Apr 2019 |
Number of employees
Current staff
Industry
| Regional Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/08/18 23:40 |
| End of day share price update: | 2019/08/16 00:00 |
| Last estimates confirmation: | 2019/08/16 |
| Last earnings filing: | 2019/08/01 |
| Last earnings reported: | 2019/06/30 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
